Kennedy Capital Management Inc. increased its stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 76.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 331,285 shares of the financial services provider’s stock after buying an additional 143,718 shares during the quarter. Kennedy Capital Management Inc. owned 2.18% of Veritex Holdings worth $8,723,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in VBTX. Principal Financial Group Inc. bought a new stake in Veritex Holdings during the second quarter worth $259,000. Rhumbline Advisers grew its stake in Veritex Holdings by 66.4% in the 2nd quarter. Rhumbline Advisers now owns 14,807 shares of the financial services provider’s stock valued at $390,000 after purchasing an additional 5,911 shares during the period. Monarch Partners Asset Management LLC grew its stake in Veritex Holdings by 18.1% in the 2nd quarter. Monarch Partners Asset Management LLC now owns 19,750 shares of the financial services provider’s stock valued at $520,000 after purchasing an additional 3,030 shares during the period. Schwab Charles Investment Management Inc. grew its stake in Veritex Holdings by 37.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 25,500 shares of the financial services provider’s stock valued at $672,000 after purchasing an additional 6,900 shares during the period. Finally, First Trust Advisors LP grew its stake in Veritex Holdings by 224.2% in the 2nd quarter. First Trust Advisors LP now owns 34,672 shares of the financial services provider’s stock valued at $913,000 after purchasing an additional 23,977 shares during the period. Institutional investors and hedge funds own 52.17% of the company’s stock.
A number of research analysts have recently commented on the company. Piper Jaffray Companies reaffirmed a “hold” rating and set a $29.00 price target on shares of Veritex Holdings in a research report on Friday, July 14th. Zacks Investment Research raised Veritex Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. BidaskClub cut Veritex Holdings from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Stephens set a $32.00 price target on Veritex Holdings and gave the company a “buy” rating in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $31.83.
In related news, insider Ned N. Fleming III sold 55,134 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $26.16, for a total transaction of $1,442,305.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Clayton Riebe purchased 1,950 shares of Veritex Holdings stock in a transaction that occurred on Monday, September 11th. The stock was bought at an average cost of $25.19 per share, with a total value of $49,120.50. Following the completion of the transaction, the insider now owns 4,686 shares of the company’s stock, valued at $118,040.34. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 220,100 shares of company stock valued at $5,694,395. Insiders own 9.10% of the company’s stock.
Shares of Veritex Holdings, Inc. (NASDAQ:VBTX) opened at 25.47 on Friday. The company’s 50-day moving average price is $25.98 and its 200-day moving average price is $26.84. Veritex Holdings, Inc. has a one year low of $15.46 and a one year high of $29.43. The stock has a market cap of $387.50 million, a PE ratio of 25.86 and a beta of 1.67.
Veritex Holdings (NASDAQ:VBTX) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The business had revenue of $14.14 million during the quarter, compared to the consensus estimate of $16.40 million. Veritex Holdings had a net margin of 22.61% and a return on equity of 6.09%. Equities research analysts anticipate that Veritex Holdings, Inc. will post $1.06 earnings per share for the current year.
Veritex Holdings Profile
Veritex Holdings, Inc is a bank holding company. The Company, through its subsidiary, Veritex Community Bank (the Bank), a Texas state chartered bank, provides relationship-driven commercial banking products and services tailored to meet the needs of small to medium-sized businesses and professionals.
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